All posts tagged Wilbur Ross

Wilbur Ross isn’t optimistic. He says he’s not totally pessimistic, but the financier is short on happy thoughts.

Over the course of an hour-long talk Wednesday afternoon at the Japan Society in New York, Mr. Ross voiced just about only one view that was in the not-totally-depressing camp. Stock markets, he says, “have priced in a very bearish scenario. Unless things get truly bad, the worst is probably over for the markets,” he said.

However, that lonely note of positive thinking came with a long laundry list of caveats and things that might not go so well. For starters, “the worst is probably over” call depends on European officials successfully ring-fencing a likely Greece default off from the rest of Europe. It also depended on avoiding the collapse of any major European banks, said Mr. Ross, chairman of WL Ross & Co.

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Global investment banks got a second-quarter revenue boost from a surge in Asian stock trading. But given China’s market volatility and stock declines in some other countries, those revenue gains may be hard to replicate.